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Euro trades flat near 1.1200 as oil and bond turmoil weigh on EUR/USD

EUR/USD is on track for a 3.5% sell-off over a five-week losing streak, with Brent near $103 after a roughly 2.8% daily gain.

Reported · Written up by our desk · Major Pairs

The euro was steady at 1.1200 versus the US dollar on Thursday, with EUR/USD buyers kept in check by a rebound in oil and ongoing strains in bond markets, FXStreet reported.

FXStreet said the pair is holding to a broader bearish trend and is positioned for a 3.5% sell-off across a five-week losing streak.

The outlet attributed the pressure to a bond-market rout that has left France’s borrowing costs at levels above those seen during the 2009 financial crisis, and it noted that the Bank of France governor sought to reassure markets that France does not need help from the European Central Bank.

FXStreet also pointed to oil, saying Brent reached fresh three-week highs just above $103.00 and had gained nearly 2.8% on the day, while expectations for tighter central bank policy in response to inflation have contributed to higher global yields.

Latest closeBrent $100.73 ▼1.5%|EUR/USD 1.122 ▼0.3%

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